Arviem AG, Switzerland, announced the closing of its series B investment round. The $10 million bring its total funding to $15 million. The Series B investment round was led by SICPA, a Switzerland-based provider of secured identification, traceability and authentication solutions and services. Additional funds are coming from existing investors such as Swisscom, a Switzerland-based telecommunications company, and Verve Capital Partners, a Switzerland-based venture capital firm, as well as new investors such as hiQ Solutions; Chanco Holding Advisors, Hong Kong; NEST Labs, Palo Alto, Calif.; and private investors.
“The container shipping industry is embracing technology to improve productivity and cut costs. Even though so far, the industry has been slow in responding to technological advances, the change brought about by digitalization is now coming to shipping and logistics and the rate of adoption of new technologies is accelerating. Therefore, companies offering products and services tailored for this market, such as Arviem, are positioned for ongoing success,” says Sauro Nicli, member of the executive committee at SICPA.
Arviem’s IoT technology creates transparency in supply chains, and connects intermodal shipping containers, cargo, vessels and trailers to a cloud-based data analytics platform.
“During our 10 years of operations, Arviem has focused on addressing the needs of clients toward more transparent, more efficient supply chains,” says Stefan Reidy, founder and CEO of Arviem. “By providing a unique IoT-powered, hassle-free cargo monitoring service with global coverage, we have succeeded in driving rapid customer adoption, and our service has been deployed by clients in various industries worldwide. To continually support the needs of the industry, the new funding will be used for expanding our service portfolio, leveraging the mass of data that we have collected over the years. Developing our services in supply chain financing and supply chain risk profiling with the aim of creating a ‘one-stop-shop service’ (or so-called supply chain service ecosystem) will be our next milestone.”